Multi family investing in Philadelphia

[Michael O Hanlon]

Hi All,

I’m strongly considering investing in 2-4 unit rental properties in Philadelphia, specially around the Temple University and surround areas. Does anybody have any experience in this area?

[Kevin M.]

I own a triplex near Temple. It has been a good cash flow property. I will advise to make sure your target property is zoned for the number of units you plan on renting. It should also have a CO for each unit. There are a lot of illegal multi-families that operate around the universities (well the entire city really...) and you can get burned if you ever have to evict a tenant or get an L&I complaint. Overall I've been happy with it, but it takes a lot of work on the management end with high student turnover.